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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends demonstrate that there are a myriad of factors changing the industry. There are a sampling of key data that have been featured because of this. A sampling ofhe most notable include:
- Hourly downtime affects most businesses. 98% say it may cost them at least $100,000 per hour.
- Predictive maintenance can reduce expenses by 20%.
- Predictive maintenance can prevent unplanned outages by up to 50%.
- Many large companies, 72%, require 99.99% minimum uptime.
- The industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is expected to focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer dealing with a pre-established company.
- 63% of companies believe IoT device investment will increase profitability.
- 3/4 of companies will have digitized their supply changes by 2021.
- Close to one third of companies have already implemented IoT into their devices.